GW&K Investment Management LLC Increases Stake in Globant S.A. (NYSE:GLOB)

GW&K Investment Management LLC grew its stake in Globant S.A. (NYSE:GLOB) by 0.4% during the 4th quarter, HoldingsChannel reports. The firm owned 371,595 shares of the information technology services provider’s stock after buying an additional 1,645 shares during the quarter. GW&K Investment Management LLC’s holdings in Globant were worth $79,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC acquired a new position in shares of Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC acquired a new stake in Globant during the fourth quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new position in Globant in the third quarter valued at $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant in the fourth quarter worth about $45,000. Finally, Van ECK Associates Corp boosted its stake in shares of Globant by 62.4% during the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 3.1 %

Shares of NYSE:GLOB opened at $148.14 on Friday. Globant S.A. has a 52-week low of $147.62 and a 52-week high of $238.32. The stock has a market cap of $6.38 billion, a P/E ratio of 39.82, a PEG ratio of 2.38 and a beta of 1.39. The business has a fifty day moving average of $208.60 and a two-hundred day moving average of $209.71.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. On average, equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLOB. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Canaccord Genuity Group dropped their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday. Susquehanna began coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, UBS Group cut their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.